K12 Inc.’s stock price drops after Wells Fargo downgraded its rating in response to the poor performance of K12’s Colorado Virtual Academy, where the graduation rate is 22 percent.

Now a rating agency finds that despite the passage of an ALEC-style amendment in Georgia, allowing a gubernatorial commission to open charters over the objections of local school boards, and despite a likely charter victory in Washington State, the charter sector as a whole is a risky investment. Read the analysis here.

Hey, is any of this about education or just about increasing market share and profits and return-on-investment?